ERHC Energy Inc.: Drilling Commences in Kenya Block 11A
Tarach-1 well spuds
NAIROBI, KENYA, April 14, 2016 – ERHC Energy Kenya Ltd., the wholly owned Kenya-based subsidiary of ERHC Energy Inc. (OTC PINK:ERHE), today announced that its operating partner, CEPSA, has commenced drilling at the Tarach-1 well in Kenya Block 11A. ERHC is a publicly traded American company with oil and gas assets in Sub-Saharan Africa.
The Tarach-1 prospect’s mean estimate of oil prospective unrisked resources is 66 million barrels. Mean unrisked prospective resources of all prospects and leads in Block 11A totals 662 million barrels. ERHC holds a 35 percent interest in Block 11A.
The Tarach-1 well is designed to drill from a 20-inch surface casing through intermediate casings down to 2,442 meters and set a 7-inch liner down to total depth (TD) of 3,000 meters. The prospect is defined by four 2D seismic lines out of the 2014 survey. The structural trap is a 3-way dip closure against a north-south normal fault plane at 1,426 mMD (-954m TVDSS) and covering a surface area of 12 sq.km. The vertical closure is calculated at 220 meters at the P10 closing contour.
ERHC Energy Kenya Ltd., headquartered in Nairobi, Kenya, is guided by General Manager Dr. Peter Thuo.
ERHC Energy's operations are focused on Sub Saharan Africa. In addition to its Kenya asset, ERHC holds a 100 percent interest in Block BDS 2008 in Chad. In the Gulf of Guinea, ERHC holds 100 percent of the rights to Block 4 in the São Tomé and Príncipe Exclusive Economic Zone (EEZ) Block 4 as well as the option to take up to a 15 percent working interest in each of two other unlicensed EEZ blocks of its choice. The Company also has interests across several oil blocks in the Nigeria - São Tomé and Príncipe Joint Development Zone (JDZ).
About ERHC Energy
ERHC Energy Inc. is a Houston-based independent oil and gas company focused on growth through high impact exploration in Africa and the development of undeveloped and marginal oil and gas fields. ERHC is committed to creating and delivering significant value for its stockholders, investors and employees, and to sustainable and profitable growth through risk balanced smart exploration, cost efficient development and high margin production. For more information, visit www.erhc.com.
This press release contains statements concerning ERHC Energy Inc.’s future operating milestones, future drilling operations, the planned exploration and appraisal program, future prospects, future investment opportunities and financing plans, future stockholders’ meetings as well as other matters that are not historical facts or information. Such statements are inherently subject to a variety of risks, assumptions and uncertainties that could cause actual results to differ materially from those anticipated, projected, expressed or implied. A discussion of the risk factors that could impact these areas and the Company’s overall business and financial performance can be found in the Company’s reports and other filings with the Securities and Exchange Commission. These factors include, among others, those relating to the Company’s ability to exploit its commercial interests in Kenya, Chad, the JDZ and the Exclusive Economic Zone of São Tomé and Príncipe, general economic and business conditions, changes in foreign and domestic oil and gas exploration and production activity, competition, changes in foreign, political, social and economic conditions, regulatory initiatives and compliance with governmental regulations and various other matters, many of which are beyond the Company’s control. Given these concerns, investors and analysts should not place undue reliance on these statements. Each of the above statements speaks only as of the date of this press release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any of the above statements is based.
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